Pearson Sells Stake in South African Business Publisher BDFM

Pearson Plc, which owns the Financial Times newspaper, has agreed to sell its 50 percent stake in publisher BDFM Publishers Ltd. to South Africa’s Times Media Group Ltd., the Johannesburg-based company said today.

Times Media, which owns 50 percent of BDFM, will acquire Pearson’s share in the South African joint venture, according to an e-mailed statement today. BDFM publishes daily newspaper Business Day and weekly magazine Financial Mail and owns African Broadcasting Channel.